According to reports confirmed by Star News, HYBE filed a request with the Seoul High Court on March 10 seeking the cancellation of forced execution related to the stock purchase payment claim involving Min Hee-jin and others.
Previously, HYBE had already requested the seizure and collection order for Min Hee-jin’s assets, including her bank accounts. After appealing the first-instance ruling in the stock purchase payment case, the company also filed for a suspension of forced execution. The court accepted the request, temporarily halting enforcement.
In civil litigation, the losing party often applies for a suspension of execution to prevent provisional enforcement of a judgment. Courts typically approve such requests if the applicant provides collateral, such as depositing a certain amount of cash or submitting a guarantee insurance certificate.
However, HYBE’s latest request to cancel the forced execution entirely goes further than simply suspending it. While suspension only pauses the enforcement temporarily, cancellation seeks to permanently exclude certain enforcement measures from the legal process, signaling how seriously HYBE views the ongoing dispute.
Earlier, the Seoul Central District Court Civil Agreement Division 31 ruled on February 12 in a case involving HYBE’s lawsuit seeking confirmation of the termination of its shareholder agreement with Min Hee-jin, as well as Min Hee-jin’s counterclaim demanding payment related to her put option. The court dismissed HYBE’s claim and ordered the company to cover litigation costs. It also ruled that Min Hee-jin’s exercise of the put option was legitimate and instructed HYBE to pay approximately ₩25.5 billion.
Following the ruling, Min Hee-jin held a press conference on February 25 at Kyowon Challenge Hall in Jongno-gu, Seoul. She announced that she had decided to give up the ₩25.6 billion she would receive from the victory in exchange for other values.
She explained that the most pressing reason behind the decision was the members of NewJeans. Min Hee-jin proposed ending all civil and criminal lawsuits currently underway if HYBE agreed to the settlement. The proposal also included withdrawing legal complaints involving NewJeans members, external partners, former ADOR employees, and even fan communities that had been caught up in the conflict.
Min Hee-jin further expressed hope that sacrificing such a large sum could help bring reconciliation and development to the K-pop industry. She emphasized that she and HYBE should be competing on creative stages rather than in courtrooms, arguing that prolonged disputes ultimately harm the artists who are at the center of the industry.
Addressing HYBE and its chairman Bang Si-hyuk, she urged both sides to return to focusing on music and creativity rather than legal battles. She also noted that with stricter corporate responsibilities expected after revisions to commercial law, choosing reconciliation could be the wisest decision for shareholders and fans alike.
Despite the proposal, HYBE deposited approximately ₩29.25 billion as a litigation guarantee with the Seoul Central District Court in order to block the provisional enforcement of the first-instance ruling, indicating that the legal battle between the two sides is far from over.
Sources: Daum
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